Anti-Financial Crime & Financial Crime Compliance
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Compliance News, EU/Europe

EBA explains how it will carry out risk assessments under new regulations as it prepares to lead Europe’s AML fight

The European Banking Authority has published a new document explaining how it will carry out risk assessments after being assigned a new role to lead the fight against money laundering and terrorist financing (ML/TF) in all EU member states.

Falling under article 9(a) of the revised EBA regulation, the methodology released Thursday highlights a five-stage process to identify and assess ML/TF risks in the “strategies, capacities and resources” of competent authorities.

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